Member Info for TerryM1

As I said before I think this is due to the UK shares being dumped/transferred to the US when both markets are open.

Numerco 8750/9100

Up a little

Interesting analysis

“The inept understanding on here is actually outstanding! Relatively small shorts have been opened, and JP Morgan have jumped in, this to me is a positive sign for the medium to long-term for an SP rise.”

DEC is number 13 in the most shorted UK companies did not realise this is small.

So JP Morgen opened a short and decreased its position in order to get the SP to rise.

“Shorts are opening to create the very panic displayed by the PI's on here. They open small shorts as they are actually going long on the share. Shorts are opened to cause SP to remain low, sellers abundant and panic ensues picking up Shares on the cheap.”

This should fall foul of the FSA (not that they do anything), it is called share price manipulation, so JP Morgan are happy to be seen doing this.

So the reason for DEC to have lots of shorts is that the shorters do this to make the SP rise.

“Hang in there - in 6mths to a year this will look very different concerning SP value.”

Unfortunately this could been said 6 months or year ago and it would have been right.

“O and by the way for those that have not worked it out yet, the whole Tender of Shares effort was also contrived. There is no-way on hell's earth did they not know this was not legal in the states. this was a very, very clever ploy to circumvent the lowering of the Divi and using this as an excuse to do so (or part there-of) to create the SP rise they are looking for. Sneaky yes, protecting the current SP at these levels with a spurious get out as to why divi lowered, equals very clever! Ask yourself did they find out on the morning of the RNS release this was illegal or did they know weeks ago, did II's not inform them of this (of course they would have done)? They knew and used it as a tool to get where we are. If they knew it was illegal why did they not terminate the Tender offer with an updated RNS separately? they just waited to throw it in the information with the lowering of the Divi, clever stuff as gave them a legit get out which did not cause any real panic with a drop in SP (the other way round would have done)”

So again this was a share price manipulation that is illegal. In my view the SP was too low as they put a floor on tender offer and were frightened what would happen with SP collapse so looked for an excuse to pull the tender or perhaps it is what is says on the tin.

I must be totally inept (however I tend to feel that way getting involved with DEC and Rustys lies) for me if it looks like a duck, quacks like a duck it is almost certainly a duck.

Notrex

"One thing is certain - they sure do need to grow the SP"

Can't see why they can just give themselves more shares as the SP and dividends drop to compensate, they obviously don't give a S**t about the shareholders.

As I said when I first saw the report, shorters have been given all their Christmases at once.

To anyone who thinks the SP is doing OK this is against the background of all time highs in the London and NY indexes, with rising indexes and dovish signals from FED and BOE on interest rates and a good report (except for dividends and acquisition) this share should be over £10 now instead all we get is rising shorts, well done Rusty and the BOD you really earnt all those free shares.

Jim800

"Terry, I guess the new 10% ish dividend makes BBs less attractive than they were at 30% ish."

Have to agree but the point I am trying to make it is another broken promise.

As for the freebie shares for the BoD, their income has reduced due to the cut in dividends and their capital in form of their shares what else could they do to maintain their lifestyle otherwise they would have to suffer like to other shareholders and they are too important for that. What next raise in their salary, why not just one of many two finger gestures to shareholders.

As I said this company is now run for the BOD with scant regard for shareholders.

Corrections

"But it is staggering that a business with a household name - turning over £3billion /year of solid revenue was only worth about £220million yesterday morning!"

Not really, does not matter how big the business is if it has not made a profit for over 6 years and pays no dividend. Also add in the useless JL and BOD who lied and milked the company for their own gain with scant regard for the shareholders I am not surprised we are here.

But with AH some light at the end of the tunnel and the best news in 6 years, it will be tough making the required cuts to turn this around as a lot of good staff will leave but what choice is there, cut or bankruptcy, you can't keep losing money for ever. Good luck to us all, we need it.

"But it is staggering that a business with a household name - turning over £3billion /year of solid revenue was only worth about £220million yesterday morning!"

Not really, does not matter how big the business is is if it has made a profit for over 6 years and pays no dividend. Also add in the useless JL and BOD who lied and milked the company for their own gain with scant regard for the shareholders I am not surprised we are here.

But with AH some light at the end of the tunnel and the best news in 6 years, it will be tough making the required cuts to turn this around as a lot of good staff will leave but what choice is there, cut or bankruptcy, you can keep losing money for ever. Good luck to us all, we need it.

Notrex

"MrG123 - I suspect we might be waiting a while (but hope not). Seems to me on past precedent that good ole Rusty will be back to trying to fulfil his seemingly blind ambition to buy every gas well on planet Earth."

I am waiting for Rustys promise of BB but suspect just sporadic and animaica as usual, he talks a good game like on the dividends.

I think Rusty wants to buy loads of wells to grow the company and he got impatient, at present interest rates too high to borrow and no chance of more share rases. The only source left was our now missing dividends but what the hell, just have to break another promise, he is getting used to that. It would be far more accretive to BB shares than more wells especially in a market already flooded with gas but this would not have fulfilled Rustys dream to be in charge of a bigger company. Can't see much in the way of decent dividends for quite a time (basses on SP I bought at) as Rusty will run the company for himself and his own ambitions with scant regard for shareholder value. Just one more company run for the BOD not the shareholders.

Numerco 8850/9000

Heading up

"With revenue up, profit up, and production at a record high, the signs are finally looking upbeat."

And they still reduced the dividend by 2/3, not a very upbeat action.

"Wander what happens now 10% is recalibrated dividend (rather than 40% of FCF) if SP should double over next few months it'll only be 5% - what'll they do then?"

Who cares I will be out like a lot of others.

"The dividend plainly was not helping support the share price"

This is a new one on me, can't remember the times I have read about shares and seen the phrase, the large dividend will help support the SP.

So I will put my question another way, now the dividends has been trashed and if the dividend was not supporting the SP why is the SP falling after what would otherwise a good report.

If you were on the Titanic after it hit an iceberg would you say that's fine the ship is not going down.

Notrex

The problem I have found is that some shareholders fall in loves with a share and its BOD, treat their investments like the supporters of their local football team and can see no wrong.

I had the same sort of response on the CPI board a year ago, was attacked constantly for criticising CPI BOD decisions, 1 year latter SP trashed all of those CPI supporters have either changed their mind or gone away with huge loses.

"All far too rational for some on here who 'methinks doth protest too much"

So the rational plan is to trash the dividend and the SP, really.

Pickedpeck

"Terry - No one cares you're upset"

Me being upset or not is irrelevant

PLEASE answer the question why is the SP GOING DOWN after what would have otherwise be a very good report, the SP held up after the last XD as shareholders were not expecting this mess up. It will go up in a few days/months/years when the brokers wake up, the sun comes etc is no answer.

If this was liked by the major investors you mention they would be buying, it would not be falling but rising, this is clearly a disaster.

Just to clear up another point, this has nothing to do with where DEC is listed, it is about crashing the dividend.

"I do find it a bit crazy that people seem to be so upset with a company that is still paying an 11% annual dividend"

The SP plummets rising the dividend yield for new shareholders and leaves the LTH with a good but not exceptional yield. So the best they can come up with is to drop the dividend in order to save the SP from further falls, Genius.

So the new DEC strategy is to p1ss off a lot of its shareholders (especially LTH), cause the SP to fall on both sides of the Atlantic, will be known as a shoot yourself in the foot plan.

"* New plan in 2024 = investment, buyback, growth"

I seemed to recall this was the 2023 plan.

Did not Rusty say something like 2023 will transformative year, I think we have had enough of his transforms unless you are happy to build up a lot of capital losses.

"As others have said, the New York listing in Q4 2023 clearly changed DEC's strategy for 2024 and beyond"

When was this put to shareholders or even mentioned. I saw no information that dividends will be slashed after listing in NY.

" It will take a few days to work through and settle down"

Really if this is so liked why has the SP not gone up in the US, may be some sort of lame excuse for UK but after all those US buyer must be so happy about the new plan they are selling out.

"Holding the dividends has led inexorably to a collapse in the share price."

If that is the reason for then SP collapse then all companies should cut their dividend by 2/3 and the SPs will rise, great strategy.

If this was such a great move forward why has the SP dropped so much from a very low point not just in the UK but in the US.

DEC again misread the market as they were clearly not expecting this otherwise why would they have put a floor of £9.35 on the failed tender offer or was this debacle why they pulled the offer, they said legal problems but can we trust this, I am not sure anymore.

Bad choices after bad choices or perhaps DEC is misunderstood in the US as well and should look to list elsewhere.

"Crikey Jim: I can't believe it but I'll have to agree with you too"

I also did not think I would say this but Jim "I agrees with you".

As for those that think it is fine for Rusty to break his promise, as far as I am concerned a promise is a promise, break it and you lose all trust. Rusty has changed the raison d'etre of this company, I did not buy into this, there are plenty of other places including Oil and Gas companies I get a better yield without the risks or being lied to.